Will adoption and life events among older adults
نویسندگان
چکیده
This study examines the relation between life events and the adoption of wills among older adults using the 1996 and 2000 surveys of the Heath and Retirement Study. The results suggest that the adoption of wills and trusts is associated with four life events (i.e., becoming a widow, being diagnosed with cancer, retiring, and having a positive change in assets). Older adults experiencing these events appear to be taking financial planning actions; therefore, appropriate educational and marketing efforts targeting these individuals may be more effective, readily accepted, and more cost efficient compared to general outreach and marketing campaigns. © 2006 Academy of Financial Services. All rights reserved. JEL classification: D14
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